Defections begin at Insinger

Insinger de Beaufort, the Amsterdam-based bank which recently paid Barry Townsley £10m (€15.6m) for his private client broking firm, has already seen a couple of defections with others possible.

Two private client brokers, Nick Hooper and Jonathan Pusey, have quit Townsley & Co and taken their clients with them to join quoted broker Teather & Greenwood. Hooper will not comment on whether others are likely to follow the two.